The New England Patriots take on the Philadelphia Eagles in Super Bowl LII. Wells Fargo analysts are putting their bets on the Patriots, but what could a Patriots win mean for markets?
LPL reports that a Super Bowl appearance by the New England Patriots has not historically benefited markets.
In a recent commentary piece, Ryan Detrick, senior market strategist for LPL Financial, examines what happens to the S&P 500 based on which conference wins.
The Super Bowl indicator suggests that stocks rise for the full year when the Super Bowl winner comes from the original National Football League, but when an original American Football League team wins, stocks fall.
The Patriots represent the American Football Conference (AFC), while the Eagles are part of the National Football Conference (NFC).
“[T]he data doesn’t lie — the S&P 500 Index has performed better, and posted positive gains with greater frequency, over the past 51 Super Bowl games when NFC teams have won,” Detrick writes.
Detrick admits that this indicator has no connection to the stock market.